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Fifth Third Secured Card

Credit needed
Poor/ Limited/ No histories
APR
23.99%
Annual Fee
$24

Card Summary

Fifth Third Secured Card helps cardholders build or improve their credit scores.

A $300 security deposit (up to $5,000) is required for the card. This must be deposited into your personal savings account.

A $24 annual fee is charged. Both balance transfer and purchase transactions have an APR variable at 23.99%.

The Best Features:

Interest earned on security deposits: Your Fifth Third Bank savings account earns you interest.

Drawbacks:

The Fifth Third Secured Card offers no sign-up bonus and 0% APR. This is unlike many credit cards.

Card Summary - Cons

Rates and fees

Issuer Name
Fifth Third Bank
Penalty APR
N/A
Credit Needed
Poor/ Limited/ No histories
Balance Transfer Fee
If the transfer amount is higher, $5 or 4%
Annual Fee
$24
Cash Advance Fee
$10 or 5% for each Cash Advance.
APR
23.99%
Foreign Transaction Fee
Each transaction is charged 3% in U.S. Dollars
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Here’s a smart way to pay off

Fifth Third Bank

The Best Features

Rewards

Sign up bonus

APR Requirements

Drawbacks

Highlights

Credit history is important. This information can be shared with all three credit bureaus. You can feel confident about your credit building without feeling tempted to spend beyond what you have available.

To secure your card, make a $300 non-refundable deposit to a Fifth Third Relationship Savings account. Your credit limit and account will both be funded by this deposit.

You get the same benefits as a regular credit card. You can achieve more by responsible card use and be eligible to receive future credit line increase or an upgrade to an unsecure credit card.

You have zero liability: Protect your account from unauthorised purchases.

Mastercard ID Theft Insurance: You can get assistance from resolution services to restore your good standing prior to being harmed.

Mastercard Airport Concierge: Get your personal concierge with a Secured MasterCard to make it easier and faster for you to fly through airports. Visit mastercard.com/ airport concierge for more details.

Fifth Third Secured Credit Card Benefits: Holders of Fifth Third Secured Cards have access to valuable banking and consumer benefits including:

Airport concierge service,
Protection against identity theft,
No liability coverage.

Benefits

Comparative Analysis with Other Cards

Fifth Third Secured Card Vs. Capital One Platinum Secured credit Card

Annual Fee: $54 per year for the Fifth Third Secured Card Annual fee: The Capital One Platinum Secured Credit Card doesn't have an annual charge.

Rewards: This card does not offer any cash-back, points, or travel reward program.

Sign up bonus: No card provides a sign up bonus.

Benefits: The Fifth Third Secured Card offers valuable consumer benefits such as zero liability protection and airport concierge services. Capital One Platinum Secured credit card holders have access to Mastercard identity theft protection, fraud coverage, and emergency card services.

Fifth Third Secured Credit Card Fifth Third Secured Card vs. Discover it Secured credit card

Reward Program: Fifth Third Secured Card doesn't offer any rewards programs. You can earn up to $1,000 combined gas station and restaurant cashback per quarter with the Discover it Secured credit card. All other purchases are eligible for a 1% cashback.

Sign up bonus: Fifth Third Secured Card doesn't offer any sign-up bonuses. Your total cashback rewards from the Discover it Secured credit card are instantly matched dollar-for-dollar at the end for all new cardholders.

Benefits: Fifth Third Secured Card provides consumers with benefits such as zero liability protection and airport concierge services. Identity theft protection is also included. Cardholders of the Discover It Secured Credit Card have free access to travel and consumer benefits.

Redeeming Rewards

Maximizing Rewards

Annual Fees

Conclusion

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No late fees. Reduced interest charges. Pay off

Fifth Third Bank